<ul><li>Bitcoin reached a peak of $61,337 on Tuesday, marking its largest intraday gain since early August.</li><li>Investors are speculating that the Federal Reserve's rate cut will result in looser lending conditions and drive more speculative behavior.</li><li>Strong retail data and a potential 50-basis-point rate cut have alleviated recession fears and contributed to bitcoin's rise.</li><li>Crypto fund investments have increased by $436 million after two weeks of outflows, reflecting a shift in market expectations.</li></ul>

Bitcoin is surging on hopes rate cuts will drive a speculative rush

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